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A.M. Best Withdraws Credit Ratings of National Building Material Assurance Company

August 3, 2018

OLDWICK, N.J.--(BUSINESS WIRE)--Aug 3, 2018--A.M. Best has withdrawn the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of National Building Material Assurance Company (NBMA) (Indianapolis, IN).

Clear Blue Specialty Insurance Company completed the acquisition of NBMA on July 23, 2018. Concurrent with the sale, the inter-company pooling agreement between NBMA and its two former affiliates, Pennsylvania Lumbermens Mutual Insurance Company and Indiana Lumbermens Mutual Insurance Company, collectively known as Pennsylvania Lumbermens Group, was revised effective April 30, 2018, making NBMA a clean shell at the time of sale. The sale of NBMA has resulted in A.M. Best withdrawing the Credit Ratings (ratings) of this entity. A.M. Best’s policy is for a final rating to be completed along with a rating withdrawal. However, a final rating update was not able to be completed, as NBMA was a clean shell at the close of the transaction.

This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s web page. For additional information regarding the use and limitations of Credit Rating opinions, please view . For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view .

A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit for more information.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180803005532/en/

CONTACT: A.M. Best

Robert Valenta, +1 908-439-2200, ext. 5291

Senior Financial Analyst

robert.valenta@ambest.com

or

Christopher Sharkey, +1 908-439-2200, ext. 5159

Manager, Public Relations

christopher.sharkey@ambest.com

or

Raymond Thomson, CPCU, ARe, ARM, +1 908-439-2200, ext. 5621

Associate Director

raymond.thomson@ambest.com

or

Jim Peavy, +1 908-439-2200, ext. 5644

Director, Public Relations

james.peavy@ambest.com

KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW JERSEY

INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE

SOURCE: A.M. Best

Copyright Business Wire 2018.

PUB: 08/03/2018 04:51 PM/DISC: 08/03/2018 04:51 PM

http://www.businesswire.com/news/home/20180803005532/en

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